The project manager is responsible for completing the Request for Establishment
of True Endowment Project, attaching the donor documents (including
a copy of the executed endowment agreement), and forwarding them to
the UVA Development Office.

A new true endowment project is created
when a donor restricts their gift for endowment purposes.

1.

Within 24 hours of receipt of endowment funds, the
department/area forwards the funds, together with donor correspondence
and Request for Establishment of University True Endowment Project
to UVA Development Office. Ideally, the signed endowment agreement
should be forwarded to UVA Development Office at the same time.
UVA Development Office will deposit the funds in a University suspense
project pending receipt of a signed endowment agreement, if applicable,
and creation of project and award by Investment and Tax Services.

2.

After funds are received, UVA Development Office forwards
the donor correspondence, signed endowment agreement and Request
for Establishment of University True Endowment Project to Investment
and Tax Services.

Note: Funds will not carry a return for the endowment
until such time as the funding has been moved from the University
suspense project.

3.

Investment and Tax Services creates a new project
and award, prepares the Project Create Form and paper clips the
Project Create Form to the new project.

4.

Investment and Tax Services funds the
project and initially budgets the award and project with $0.01.

5.

Workflow forwards the project and award to Award Manager
and Investment and Tax Services for final approval.

6.

Investment and Tax Services notifies the UVA Development
Office, the departmental administrators, and the award manager of
the approved project and award.

7.

UVA Development Office transfers the gift receipts
to the true endowment project in the general ledger.